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1731 Ferrell Street Las Vegas, NV 89106

2 Beds 2 Baths 1,090 sqft Built 2008

$200,000

List Price

$1,120

$1K - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $183.49
  • 3 Days on Market
  • MLS # : 2273177
  • Updated Date : 02/27/2021 at 18:57
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,090 sqft
  • Baths : 1 full , 1 half
Listing Agent

Century 21 Americana

Listing Agent's Description

HIDDEN GEM, 2 MASTER BEDROOM, CERAMIC TITLE 1ST FLOOR, CARPET ON SECOND FLOOR, BUILT IN 2008. LARGE LIVING ROOM, NEXT TO KITCHEN WITH BREAKFAST BAR. THIS IS A MUST SEE!!!

SEE MORE

MARKET HIGHLIGHTS

  • Las Vegas metro's economy was worth $124.9 billion in Gross Metro Product in 2018 and projected to grow to $133.2 billion in 2019 (USMayors.org, 2018)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)
  • Las Vegas metro has 61.2% labor force participation rate (USMayors.org, 2018)
  • Las Vegas metro's employment growth was at 2.6% in 2018 and predicted to grow at the rate of 1.7% in 2019 (USMayors.org, 2018)
  • A $7.5 billion mixed-use 6-year project known as Bleutech Park Las Vegas is starting in December 2019. The project will incorporate environmental and technological features such as water purification, on-site waste treatment and localized air cleaning. Described as an “insular mini-city,” the plan calls for use of autonomous vehicles, AI, augmented reality, robotics and other advanced technologies. (reBusinessOnline - France Media, 2019)
  • Las Vegas metro's major employers include: MGM Resorts International, Caesars Entertainment Corporation, Stations Casinos, LLC., Wynn Resorts, Boyd Gaming Corporation, Las Vegas Sands Corporation, Walmart Stores, Cosmopolitan of Las Vegas, The Valley Health System and Supervalu (Las Vegas Sun, 2019)

PRICE & RENT TRENDS

Neighborhood: West Las Vegas

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $67k296k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: West Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29009501000105011001150120012501300135014001450150015501600Rent in $8971603

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Ollie Detwiler Elementary School Primary Regular 733 41 1
Western High School High Regular 2,534 112 2
Western High School High Unknown NA

Ollie Detwiler Elementary School

  • Education Level: Primary
  • # of students: 733
  • # of teachers: 41
1
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,534
  • # of teachers: 112
2
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,008$1,232$1,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,120
EXPENSES Loan Payment -$695
Property Tax -$161
Property Insurance -$48
Property Management Fees -$119
CASH FLOW
$97

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$200,000

PROJECTED PRICE

$1,120

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$695

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$19,490

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,120

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,196

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,120
1$1,1202$1,1503$1,2004$1,2505$1,250
$1,250
RENT COMPS ANALYSIS
  • 1731 Ferrell Street Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,090 Sqft ∙ Built 2008 2 beds 2 baths ∙ 1,090 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,120
    • $1.03
    •  
  • 2501 Duck Arrow Circle Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,091 Sqft ∙ Built 1993 2 beds 2 baths ∙ 1,091 Sqft ∙ Built 1993
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.05
    •  
  • 1837 Ferrell Street Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,090 Sqft ∙ Built 2008 2 beds 2 baths ∙ 1,090 Sqft ∙ Built 2008
    property image
    LEASED 01/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.10
    •  
  • 2517 Danborough Court #106 Las Vegas, NV 4
    • 2 beds 3 baths ∙ 1,113 Sqft ∙ Built 1999 2 beds 3 baths ∙ 1,113 Sqft ∙ Built 1999
    property image
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.12
    •  
  • 1956 Vista Malaga Street #104 Las Vegas, NV 5
    • 2 beds 3 baths ∙ 1,113 Sqft ∙ Built 1999 2 beds 3 baths ∙ 1,113 Sqft ∙ Built 1999
    property image
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.12
    •  
PROPERTY LISTING DETAILS
Jose A Rosales Lopez
1.702.789.9328
Century 21 Americana
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2273177
Last Updated: 02/27/2021
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